Albemarle Corporation $ALB Shares Bought by Prospera Financial Services Inc

Prospera Financial Services Inc increased its stake in shares of Albemarle Corporation (NYSE:ALBFree Report) by 142.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 11,798 shares of the specialty chemicals company’s stock after acquiring an additional 6,933 shares during the period. Prospera Financial Services Inc’s holdings in Albemarle were worth $957,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Hantz Financial Services Inc. grew its holdings in Albemarle by 10,050.0% during the 2nd quarter. Hantz Financial Services Inc. now owns 406 shares of the specialty chemicals company’s stock valued at $25,000 after purchasing an additional 402 shares in the last quarter. CVA Family Office LLC boosted its position in Albemarle by 7,257.1% in the 2nd quarter. CVA Family Office LLC now owns 515 shares of the specialty chemicals company’s stock valued at $32,000 after buying an additional 508 shares during the last quarter. Cromwell Holdings LLC grew its stake in shares of Albemarle by 36.8% during the third quarter. Cromwell Holdings LLC now owns 413 shares of the specialty chemicals company’s stock valued at $34,000 after acquiring an additional 111 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Albemarle by 536.7% during the second quarter. EverSource Wealth Advisors LLC now owns 573 shares of the specialty chemicals company’s stock valued at $36,000 after acquiring an additional 483 shares in the last quarter. Finally, Physician Wealth Advisors Inc. acquired a new position in shares of Albemarle in the third quarter worth about $40,000. Institutional investors and hedge funds own 92.87% of the company’s stock.

Key Albemarle News

Here are the key news stories impacting Albemarle this week:

Albemarle Trading Up 4.7%

ALB stock opened at $166.42 on Friday. The business has a fifty day moving average price of $158.16 and a 200 day moving average price of $115.33. The company has a debt-to-equity ratio of 0.41, a current ratio of 2.23 and a quick ratio of 1.51. Albemarle Corporation has a fifty-two week low of $49.43 and a fifty-two week high of $195.68. The stock has a market capitalization of $19.61 billion, a price-to-earnings ratio of -28.94, a P/E/G ratio of 2.40 and a beta of 1.44.

Albemarle (NYSE:ALBGet Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The specialty chemicals company reported ($0.53) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by ($0.13). Albemarle had a positive return on equity of 0.41% and a negative net margin of 10.74%.The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the company earned ($1.09) EPS. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. Analysts expect that Albemarle Corporation will post -0.04 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ALB. Rothschild & Co Redburn raised their price target on shares of Albemarle from $158.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday, February 10th. Scotiabank raised shares of Albemarle from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the stock from $85.00 to $200.00 in a report on Monday, January 12th. Citigroup lifted their price target on Albemarle from $180.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday. Bank of America increased their price target on Albemarle from $118.00 to $167.00 and gave the company a “neutral” rating in a research report on Thursday, January 8th. Finally, Robert W. Baird set a $210.00 price objective on Albemarle and gave the stock an “outperform” rating in a research note on Wednesday, January 7th. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $162.72.

View Our Latest Research Report on Albemarle

Albemarle Company Profile

(Free Report)

Albemarle Corporation is a leading global specialty chemicals company primarily engaged in the production and distribution of lithium, bromine, and catalysts. Its lithium segment supplies key components used in rechargeable batteries for electric vehicles, portable electronics, and grid storage systems. The company’s bromine specialty products serve a wide range of industries, including oil and gas drilling fluids, fire safety solutions, and water treatment. In its catalysts division, Albemarle provides products for petroleum refining, chemical processing and emissions control.

Founded in 1994 as a spin-off from Ethyl Corporation, Albemarle has grown through strategic acquisitions and capacity expansions to become one of the world’s foremost chemical producers.

Featured Articles

Want to see what other hedge funds are holding ALB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Albemarle Corporation (NYSE:ALBFree Report).

Institutional Ownership by Quarter for Albemarle (NYSE:ALB)

Receive News & Ratings for Albemarle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Albemarle and related companies with MarketBeat.com's FREE daily email newsletter.